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is medicine a "recession proof" industry?

Probably in the same sense that real estate is..

There will always be people that need medical care, just as there will always be people that need housing..
 
Originally posted by: Eli
Probably in the same sense that real estate is..

There will always be people that need medical care, just as there will always be people that need housing..
Click to expand...

real estate is cyclic also. In ~1990, real estate was hit pretty bad in this area, a family friend where both the husband and wife worked real estate lost their jobs and went overseas to pursue other paths.



 
I believe so. It's sorta like Food, which is an InElastic Good. (Or is it Elastic?) Damn you Econ 101!!!!!!





KeyserSoze
 
Originally posted by: Eli
Probably in the same sense that real estate is..

There will always be people that need medical care, just as there will always be people that need housing..
Click to expand...

Whoooaaaa. No no no no no...

Real estate fluctuates GREATLY with the economy. Either it becomes a buyer's market or a seller's market.
The interest rate very much affects mortgaging as well.

Medicine is more of a touchy area.. it depends on so many factors its not even funny. A lot of it depends on the rates of malpractice insurance, activity of health insurance companies, demographics of the area, etc. etc.

But as a whole, all the doctors I know (500+) have very prosperous businesses. Many have known my dad for 40-50 years, ever since he's been in business, and they've been doing medicine the entire time.
 
It is a pretty good field to get into. Jobs are pretty plentiful in most places. Education is required for any decent type of hands on work.
 
Originally posted by: amnesiac
Originally posted by: Eli
Probably in the same sense that real estate is..

There will always be people that need medical care, just as there will always be people that need housing..
Click to expand...

Whoooaaaa. No no no no no...

Real estate fluctuates GREATLY with the economy. Either it becomes a buyer's market or a seller's market.
The interest rate very much affects mortgaging as well.

Medicine is more of a touchy area.. it depends on so many factors its not even funny. A lot of it depends on the rates of malpractice insurance, activity of health insurance companies, demographics of the area, etc. etc.

But as a whole, all the doctors I know (500+) have very prosperous businesses. Many have known my dad for 40-50 years, ever since he's been in business, and they've been doing medicine the entire time.
Click to expand...

I was just talking out my ass.. I don't know much about economics. 😛

I wouldn't mind learning though, I want to get into real estate eventually..
 
Originally posted by: amnesiac

Medicine is more of a touchy area.. it depends on so many factors its not even funny. A lot of it depends on the rates of malpractice insurance, activity of health insurance companies, demographics of the area, etc. etc.

But as a whole, all the doctors I know (500+) have very prosperous businesses. Many have known my dad for 40-50 years, ever since he's been in business, and they've been doing medicine the entire time.
Click to expand...

That's the thing I noticed about medicine is that a variety of factors affect how much money is being thrown around, but in terms of actual job security and positions, the jobs are actually fairly stable and consistent.

I'm probably too old at 24 to go take more undergrad classes and reverse directions down med, but sometimes I think I should have stuck out premed since that's what I entered college as. 🙂

 
of course it is, you think they attempt to find a cure for diseases? well hell no - they're out to get your $$$...from the insurance companies, to drug makers, to doctors...they just prolong the pain!! don't you love trickle down economics???

LOL
 
No.

Not recession proof.

Johnson and Johnson is in a hiring freeze now for many of their divisions. The place I have been at for the past 2 years isnt even hiring interns this summer and are looking to cut back on regular employees.

The companies go in cycles.. if they have nothing in the pipeline in terms of new drug research they are out off luck. And with the way the economy is now they cant afford to keep everyone on board, just like all the other companies.
 
Originally posted by: LordJezo
No.

Not recession proof.

Johnson and Johnson is in a hiring freeze now for many of their divisions. The place I have been at for the past 2 years isnt even hiring interns this summer and are looking to cut back on regular employees.

The companies go in cycles.. if they have nothing in the pipeline in terms of new drug research they are out off luck. And with the way the economy is now they cant afford to keep everyone on board, just like all the other companies.
Click to expand...


I think he may be talking about medical care workers. Which IMO right now is very recession proof and will be for some time as shortages in workers are predicted for a long time. Right now you can go to virtually any city in the country and probably get a job within a few days with the right credentials.

I have yet to hear about a hospital in my area ever laying off any workers.
 
Medicine and hospital jobs are essentially recession-proof. Just scan the newspaper classifieds in almost any town.....they continually scream for med related jobs. Why? People always get sick.

Drug companies are excluded from this............a lot of their "hiring freezes" are research oriented or detail persons (the guys/gals who visit MD offices tring to entice the physician to prescribe their brand of whatever med.......don't have to hire new personnel to keep coverage over areas.) If their research isn't heavy or a new drug doesn't pan out, cuts are made or hiring freezes.

That said, hospital-based jobs are and will be plentiful for the forseeable future and are considered on of the most recession-proof areas of the economy. Hot areas.......RN, PT, OT, Rehab, PA. (Registered nurse, Physical Therapy, Occupational Therapy, Physician's Assistant.)
 
As disposable income goes down, people will stop spending on things like preventative medicine (regular physicals, etc.) It's already pretty common for people who have lost their health insurance due to do this, stretch out prescriptions, etc. It's true that people will always need food, shelter, and medical care, but no sector will go completely unscathed by a recession (that's why it's a recession).
 
Originally posted by: CChaos
Aren't nurses in great demand? Thoughts on being a male nurse? Gaylord Fokker jokes?
Click to expand...

As I said in my previous reply, search the online classifieds of virtually any cuty newspaper in the country and you will see jobs for nurses. My town has a population of 14,000 and pretty much the only constant help wanted as was for nurses. Nurses are in great demand and will be for some time.
 
I volunteer at a local hospital. They have been cutting hours for nurses and techs. Yes, they really need more people instead of less, but it doesn't stop them from trying to cut costs. So I say it's a good field to get into, but it's not fully recession proof.

 
Male nurse for 17 years now...

Don't do it. I make ~$65K a year base & I'm maxed out for the next 13 years till I retire, finally have a shot @ M-F job, starts next week.

You could make better $ with virtually any other 4 year degree (what I have).

If you really want to feel your tingly sex organs shrivel up & fall off, think about working in a 94% female profession, and all of them with a menstrual cycle in lockstep. Or as is the case now with an aging nurse population, all of them going through menopause, and have the AC cranked down to freezer mode.

Please god, consider another profession....

I've seen studies that prove male nursing staff is disciplined @ a much higher rate than females, I've been bent over & nailed numerous times because my manager's manager is fat/ugly, husband just left for something that's better or just none @ all, & they want to screw over a guy...

In the 70's being a male nurse was a fast ticket to management, now it's a severe hindrance, only guys I've seen promoted are gay (not that there's anything wrong with that) & sort of a novelty to the female nurses in management.

These are my personal experiences, and may be clouded by my personal feelings, but I strongly suggest anyone find a different career rather than being a male nurse.
 
One thing about my side of the medical industry:
Unless you have some freakish obsession with paper, avoid it. My job's 25% hardware, 75% paperwork. (on a good day)
 
The reason nurses are in demand is because their wages are artificially constrained, not very market driven, just like teachers.

(management voice)So there's a shortage of nurses? Let's import some more from India/Phillipines/Canada, the government will give them a green card if we beg, and we won't have to pay them any more. Plus foreign nurses are more docile, they're happy to have a job, they won't complain about working conditions, breaks, OT, forced unpaid leave or labor...(/management voice)
 
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